Adirondack Trust Co. Acquires 101 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Adirondack Trust Co. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 25.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 505 shares of the network technology company’s stock after purchasing an additional 101 shares during the quarter. Adirondack Trust Co.’s holdings in Palo Alto Networks were worth $157,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Horizon Family Wealth Inc. increased its position in shares of Palo Alto Networks by 1.1% during the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after purchasing an additional 28 shares in the last quarter. MV Capital Management Inc. increased its position in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 29 shares in the last quarter. Manchester Capital Management LLC increased its position in Palo Alto Networks by 17.2% in the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after acquiring an additional 30 shares in the last quarter. Quent Capital LLC increased its position in Palo Alto Networks by 15.9% in the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after acquiring an additional 32 shares in the last quarter. Finally, Parisi Gray Wealth Management increased its position in Palo Alto Networks by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PANW shares. Mizuho cut their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Citigroup increased their target price on Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Susquehanna boosted their target price on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada lowered their price target on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Twelve analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $322.78.

Palo Alto Networks Trading Down 0.8 %

PANW opened at $317.02 on Wednesday. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84. The stock’s fifty day simple moving average is $299.75 and its 200 day simple moving average is $305.60. The stock has a market cap of $102.65 billion, a PE ratio of 46.08, a price-to-earnings-growth ratio of 4.90 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In related news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the sale, the executive vice president now directly owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the sale, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,182 shares of company stock worth $74,850,597. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.